We can provide context based descendant styling with the help of gluestack-ui, i.e we can apply styles to the children of a component from the parent component.
In the below example we are applying styles to ButtonText by passing styles _text property in the sx prop of Button component.
<Box justifyContent="center" alignItems="center" h="100%">
<Box alignItems="center">
<Button sx={{ _text: { color: "red" } }}>

Expo snack link for the above example is provided here.
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